AUD/INR may rise 176 - 265 pips

Our pivot point stands at 55.463.

Our preference

As long as 55.463 is support look for 55.844.

Alternative scenario

Below 55.463, expect 55.314 and 55.226.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 55.540 and 55.499).

Supports and resistances

56.020 **

55.932 *

55.844 **

55.755

55.579 last

55.521

55.463 **

55.314 *

55.226 **

Number of asterisks represents the strength of support and resistance levels.